Business Directories

Al Baraka unit set to open Algiers HQ

Manama, June 30, 2011

Al Baraka Bank Algeria, a subsidiary unit of Bahrain-based Al Baraka Banking Group, has signed contracts for the establishment of the bank's headquarters in the Algerian capital Algiers.

The contracts were signed in Istanbul, Turkey, in the presence of the bank's chairman and board, a number of executives and Aslan Turkey Company director general Mustafa Cihad Arsalan. The company will construct the Al Baraka Bank Algeria Tower.

"We always look forward to achieving excellence in all markets in which we operate and meet the needs of our customers by providing superior services to them in a comfortable and modern work environment," Al Baraka Bank Algeria chairman and Al Baraka Banking Group president and chief executive Adnan Ahmed Yousif said.

"Our insisting on implementing this main project headquarters at this time confirms our confidence in the considerable capacities and resources of Al Baraka Bank Algeria and the group, which should entitle them to continue the growth and consistent high profitability.”

"This project comes within the framework of our efforts towards the provision of best banking services to our customers in Algeria, stressing the group's determination to move forward in strengthening its presence in the Algerian market and to contribute positively to the development of the Algerian economy," he added.

"The new headquarters building is designed to meet the present and future needs of the bank, and the selection of the location of this new building comes from our belief in the importance of this zone as a financial and banking centre," Al Baraka Bank Algeria general manager Mohammed Seddik Hafid said.

"The building is designed with the latest architecture model, supporting the requirements and expectations of future success,'' he added.

The new building is located at the business centre, and comprises 16 floors. The land area totals 17,470 sq m and contains offices designed in a modern style, halls for lectures, meeting rooms, as well as parking spaces and other services. – TradeArabia News Service